Twelve banks have expressed an interest in participating in the Third Entrepreneurship Fund (TEPIX III), a program of the Hellenic Development Bank (HDB), which will leverage around 2.4 billion euros in new loans to small and medium-sized enterprises (SMEs) and which starts after Easter, HDB Chief Executive Ismini Papakirillou announced on Thursday.
This is one of the development tools currently operating, the progress of which was announced at a press conference by Alternate Minister of National Economy and Finance Nikos Papathanasis. TEPIX III is aimed at newly established small and medium-sized enterprises for one to five years.
HDB, as stated by its president, Giorgos Zavvos, has granted more than 45,000 new loans in the period 2019-2024, disbursing €9.3 billion, and its intention is to more than double that. The lending rate was 3.63% in January, compared to the market’s 6.05%, he added.
Within HDB, also, the Rural Entrepreneurship Small Loan Fund provides microloans of up to €25,000 and a duration of up to seven years, totaling €107 million.
Other development tools presented on Thursday include:
• The Hellenic Development Bank of Investments, which manages €2.1 billion, with eight open calls for strategic sectors of the economy. It aims at the development of the Greek ecosystem of venture capital, private equity. As its president, Haris Lambropoulos, underlined, leverage is done with strong multipliers of 3.5-5 times, which contributes significantly to the development effort.
• The Just Development Transition Program, for Western Macedonia and Megalopolis, with resources of €1.6 billion. Acceptance has reached 14% of the program and invitations reached 44%. In the second quarter of this year, three invitations of €141.4 million are planned.
• Public-private partnerships (PPP). They include student residences, school infrastructure, street lighting, housing public services. The Andreas Lentakis Government Park (PYRKAL) is in the first phase of the call for expressions of interest. The project was announced three years ago.
